Cloud-Based EV Charging Market By Service Type (Software as a Service, Platform as a Service, and Infrastructure as a Service), By Solution (Insights & Reporting, Access Management for Chargers, Revenue Management, Pricing & Billing, EV-Driver App, Network Management, Remote Management, and Smart Charging), By Charging Type (AC Charging and DC Charging) - Analysis & Forecast 2020-2030.
Report ID : 375 | Published Date : Jul 2020 | Pages : 150 | Region : Global | Report Code : AT-17
Cloud-Based EV Charging Market Overview and Introduction
In cloud-based EV charging, an EV and a charging station share a data connection and the charging station shares a data connection with a charging operator to monitor, manage, & optimize energy consumption. Also, cloud-based EV charging systems can identify fickle energy production and local electricity consumption to make a better sustainable energy system based on renewable energy sources. There are various benefits associated with cloud-based EV charging. such as ease of finding available charging points, fast charging, cost-effectiveness, safe charging, reduce arguments with neighbors, and others.
Moreover, cloud-based EV charging offers a wide range of features, including a user-friendly admin panel, automatic payments & billing, mobile & web apps for the end-users, roaming, dynamic load management, energy management features, and several others. These features are driving the overall growth of the market across the globe. Furthermore, increasing government initiatives to promote clean energy by giving incentives and tax relaxation for electric vehicle buyers is expected to boost the market growth in the coming years. The server price of cloud networks is continuously decreasing and the increasing awareness regarding benefits associated with cloud-based electric charging systems are propelling the market growth. Economies such as China, the U.S., Japan, Germany, the UK, and other European countries are considered as major revenue generators in this market owing to the extensive adoption of electric vehicles and the latest technologies.
However, the high costs associated with electric vehicles and the lack of electric charging infrastructure in some geographical areas will limit the market growth to a certain extent. Additionally, the emergence of fuel cell electric vehicles is a major threat to the operating market. Moreover, security concerns associated with personal data are expected to restrain the market growth during the forecast period.
The global Cloud-Based EV charging market can be segmented into service type, solution, charging type, and region.
Cloud-Based EV Charging Market By Service Type
Based on service type, the market can be segmented into Software as a Service, Platform as a Service, and Infrastructure as a Service. The software as a Service segment is expected to grow at a healthy CAGR during the forecast period. Established players, such as ABB, are offering Software as a Service (SaaS), also referred to as cloud computing, for EV charging. ABB’s service enables efficient maintenance and support for each charger in the field, which further reduces the overall operational costs. Also, it provides connected services that can support the business models for end use customers. Such features are responsible for the growth of the software as a service segment market.
Cloud-Based EV Charging Market by Solution
Based on solution, the market can be segmented into Insights & reporting, access management for chargers, revenue management, pricing & billing, EV-driver app, network management, remote management, smart charging, and others. The EV-driver app segment is expected to grow at a healthy CAGR during the forecast period. An EV-driver app is embedded with a cloud-based server and utilized to find electric vehicle charging stations based on their location, availability, power level, and accessibility. Also, this application can provide vehicle battery power status and payment & billing information.
Cloud-Based EV Charging Market by Charging Type
Based on charging type, the market can be segmented into AC charging and DC charging. The DC charging segment is expected to grow at the highest CAGR during the forecast period owing to its advantages over other types of segments such as constant power supply and high speed of charging. Moreover, people prefer electric vehicles that support DC fast charging. Thus established key players are launching new DC fast-charging-based electric vehicles, which further supplementing the growth of this segment.
Cloud-Based EV Charging Market by Region
Based on region, the global cloud-based EV charging market can be segmented into North America, Europe, Asia Pacific, and the Rest of the World (ROW). North America is accounted for the largest market share in 2019 owing to the high penetration of electric vehicles and the presence of key established players in the region. However, the Asia Pacific region is expected to grow at the highest CAGR during the forecast period. The growth for this region can be attributed to the presence of rapidly growing economies in the electric vehicle market such as China, Japan, and India. Also, increasing initiatives for the development of charging infrastructure are expected to fuel the market growth in this region.
Cloud-Based EV Charging Market Prominent Players
Some of the prominent players in the Cloud-Based EV Charging market include EV Connect, Allego B.V., ChargePoint, Inc., ABB, OpConnect, Inc., Fortum, Greenflux B.V., Driivz Ltd., Enel X, and Saascharge, among others